BI Asset Management Fondsmaeglerselskab A S Sells 282,617 Shares of Pfizer Inc. $PFE

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Pfizer Inc. by 28.2%, selling 282,617 shares, resulting in a total holding of 719,639 shares worth approximately $18.2 million.
• In the first quarter, multiple hedge funds such as Vanguard Group and Northern Trust Corp increased their positions in Pfizer, reflecting a trend among institutional investors.
• Pfizer's recent quarterly earnings surpassed expectations with $14.65 billion in revenue and $0.78 earnings per share, and the company announced a quarterly dividend of $0.43 per share, yielding 6.8%.

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 28.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 719,639 shares of the biopharmaceutical company's stock after selling 282,617 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Pfizer were worth $18,236,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Pfizer by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock valued at $13,257,004,000 after purchasing an additional 4,629,976 shares during the period. Northern Trust Corp raised its stake in Pfizer by 6.8% during the 1st quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company's stock valued at $1,579,340,000 after purchasing an additional 3,943,397 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Pfizer by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,402,619 shares of the biopharmaceutical company's stock valued at $1,045,351,000 after purchasing an additional 1,333,740 shares during the period. Invesco Ltd. raised its stake in Pfizer by 2.8% during the 1st quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company's stock valued at $767,709,000 after purchasing an additional 838,198 shares during the period. Finally, Deutsche Bank AG raised its stake in Pfizer by 7.0% during the 1st quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company's stock valued at $715,581,000 after purchasing an additional 1,846,436 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Up 0.9%

NYSE:PFE opened at $25.2950 on Wednesday. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43. The stock has a market capitalization of $143.82 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The company's 50-day simple moving average is $24.64 and its 200-day simple moving average is $24.41.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.8%. Pfizer's dividend payout ratio is currently 91.49%.

Wall Street Analyst Weigh In

PFE has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. Leerink Partners reduced their target price on Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley lifted their target price on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Bank of America lifted their target price on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group lifted their target price on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.12.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.